Understanding the past is a great place to start when strategically planning for the future. Consider market conditions and consumer preferences as they exist today, then examine the historical timeline of economic, social, political and technological shifts that have impacted your industry. By highlighting the environmental factors that have shaped consumer behavior, your brand will be equipped with consumer insights explaining the why, how and when of significant market shifts.
This high-level, macro-economic perspective will ensure all variables are considered when identifying the micro-factors most relevant to your industry and/or market. Plotting key historical points on a customer development timeline creates a visual representation of the path-to-today and will act as a guide when discussing how current market conditions might impact future consumer behavior.